Swiss National Bank cut its stake in Penumbra, Inc. (NYSE:PEN – Free Report) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,900 shares of the company’s stock after selling 9,000 shares during the period. Swiss National Bank owned approximately 0.20% of Penumbra worth $21,710,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Fifth Third Bancorp boosted its position in shares of Penumbra by 21.5% in the first quarter. Fifth Third Bancorp now owns 271 shares of the company’s stock worth $76,000 after acquiring an additional 48 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Penumbra by 0.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,179 shares of the company’s stock valued at $4,267,000 after buying an additional 51 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Penumbra by 116.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 108 shares of the company’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Captrust Financial Advisors lifted its position in Penumbra by 44.1% during the second quarter. Captrust Financial Advisors now owns 219 shares of the company’s stock valued at $27,000 after buying an additional 67 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Penumbra by 0.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 10,116 shares of the company’s stock valued at $2,250,000 after buying an additional 88 shares in the last quarter. 91.06% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Penumbra
In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $249.85, for a total value of $149,910.00. Following the completion of the transaction, the executive vice president now owns 64,837 shares in the company, valued at approximately $16,199,524.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $249.85, for a total value of $149,910.00. Following the completion of the sale, the executive vice president now directly owns 64,837 shares of the company’s stock, valued at approximately $16,199,524.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 9,666 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $324.49, for a total transaction of $3,136,520.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,765 shares of company stock worth $9,477,821. Insiders own 5.30% of the company’s stock.
Penumbra Stock Up 1.5 %
Penumbra (NYSE:PEN – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.28 by $0.15. The business had revenue of $261.50 million during the quarter, compared to analyst estimates of $253.59 million. Penumbra had a net margin of 3.11% and a return on equity of 3.16%. The company’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 earnings per share. As a group, equities analysts expect that Penumbra, Inc. will post 1.75 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Penumbra from $351.00 to $322.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. 58.com reiterated a “maintains” rating on shares of Penumbra in a research note on Wednesday, May 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $349.00 price objective on shares of Penumbra in a research note on Thursday, August 17th. StockNews.com began coverage on shares of Penumbra in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, BTIG Research dropped their price objective on shares of Penumbra from $351.00 to $308.00 in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $329.33.
Check Out Our Latest Stock Report on PEN
Penumbra Profile
Penumbra, Inc, together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, SENDit, and PX SLIM brands.
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